Civic Intelligence

Studio Two Three

990 • Fiscal year 2023 • EIN 27-0876594

Jan 01, 2023 to Dec 31, 2023 • Filed on Nov 15, 2024

109 W 15th StRichmond, VA 23224

(804) 254-7302

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

72nd percentile

0.25x

Higher debt load relative to assets than 72% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

78th percentile

0.42x

Higher debt load relative to revenue than 78% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

11th percentile

-32%

Higher net margin than 11% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

58th percentile

$79,000

Higher top officer pay than 58% of similar nonprofits.

Top officer pay equals 10.8% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

2nd percentile

-57%

Faster asset growth than 2% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

6th percentile

-51%

Faster revenue growth than 6% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Assets

Down

$1,203,934

Down $1,595,346 (-57%) from 2022

Net Assets

Down

$897,817

Down $230,534 (-20%) from 2022

Liabilities

Down

$306,117

Down $1,364,812 (-82%) from 2022

Revenue

Down

$731,559

Down $759,837 (-51%) from 2022

Expenses

Up

$962,093

Up $244,584 (+34%) from 2022

Net Income

Down

-$230,534

Down $1,004,421 (-130%) from 2022

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$3.0M$2.0M$1.0M$0Assets 2013: $50,833Liabilities 2013: $23,184Net Assets 2013: $27,6492013Assets 2014: $51,579Liabilities 2014: $2,243Net Assets 2014: $49,3362014Assets 2015: $109,476Liabilities 2015: $4,888Net Assets 2015: $104,5882015Assets 2016: $153,309Liabilities 2016: $4,758Net Assets 2016: $148,5512016Assets 2017: $300,630Liabilities 2017: $184,864Net Assets 2017: $115,7662017Assets 2018: $282,213Liabilities 2018: $124,367Net Assets 2018: $157,8462018Assets 2019: $224,645Liabilities 2019: $106,778Net Assets 2019: $117,8672019Assets 2021: $585,308Liabilities 2021: $230,844Net Assets 2021: $354,4642021Assets 2022: $2,799,280Liabilities 2022: $1,670,929Net Assets 2022: $1,128,3512022Assets 2023: $1,203,934Liabilities 2023: $306,117Net Assets 2023: $897,8172023Assets 2024: $939,265Liabilities 2024: $275,347Net Assets 2024: $663,9182024

Highlighted filing

2023

Assets$1,203,934
Liabilities$306,117
Net Assets$897,817

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2013: $100,104Expenses 2013: $81,900Net Income 2013: $18,2042013Revenue 2014: $113,095Expenses 2014: $91,408Net Income 2014: $21,6872014Revenue 2015: $230,257Expenses 2015: $175,005Net Income 2015: $55,2522015Revenue 2016: $329,076Expenses 2016: $285,113Net Income 2016: $43,9632016Revenue 2017: $410,308Expenses 2017: $407,981Net Income 2017: $2,3272017Revenue 2018: $518,096Expenses 2018: $524,838Net Income 2018: -$6,7422018Revenue 2019: $525,801Expenses 2019: $600,397Net Income 2019: -$74,5962019Revenue 2021: $781,294Expenses 2021: $601,657Net Income 2021: $179,6372021Revenue 2022: $1,491,396Expenses 2022: $717,509Net Income 2022: $773,8872022Revenue 2023: $731,559Expenses 2023: $962,093Net Income 2023: -$230,5342023Revenue 2024: $696,286Expenses 2024: $930,185Net Income 2024: -$233,8992024

Highlighted filing

2023

Revenue$731,559
Expenses$962,093
Net Income-$230,534
Jump To
Filing Snapshot
Filing Period
Jan 1, 2023 to Dec 31, 2023
Signed
Nov 15, 2024
Return Version
2023v5.0
Gross Receipts
$745,339
Mission and Program Overview

Mission

Studio two three empowers artists to make art and make change. Studio two three is a nonprofit community print studio and art space, founded in 2009. We believe in radical generosity, the power of community art production and storytelling and that community artists are integral to social and systemic change. We are a busy home to over 130 artist members that runs off of trust and a culture of mutual aid. Members have 24/7 access, share resources and ideas, and collaborate on projects.

Balance Sheet Detail
LineBeginningEndChange
Assets
Accounts Receivable$787,005$277,005▼ $510,000
Cash and Non-Interest-Bearing Accounts$158,672$250,445▲ $91,773
Land, Buildings, and Equipment, Net$1,846,132$106,375▼ $1,739,757
Inventories for Sale or Use$3,516$3,516→ $0
Total Assets$2,799,280$1,203,934▼ $1,595,346
Other Assets Total$3,955$566,593▲ $562,638
Liabilities
Unsecured Notes Loans Payable$157,075$154,209▼ $2,866
Other Liabilities$70,777$98,439▲ $27,662
Mortgage Notes Payable Secured by Investment Property$1,442,076$36,451▼ $1,405,625
Accounts Payable and Accrued Expenses$1,001$17,018▲ $16,017
Total Liabilities$1,670,929$306,117▼ $1,364,812
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,128,351$897,817▼ $230,534
Total Net Assets Fund Balance$1,128,351$897,817▼ $230,534
Total Liabilities and Net Assets / Fund Balance$2,799,280$1,203,934▼ $1,595,346

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$70,403$97,040$167,443
Equipment$35,972$67,149$103,121
Other Assets Org$3,955--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Ashley HawkinsExecutive DiFT$79,000$79,000

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$334,990
Program Service Revenue
$350,956
Investment Income
$0
Other Revenue
$45,613
All Other Contributions
$268,291
Change in Net Assets
$-230,534
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$708,300
Salaries, Compensation, and Employee Benefits$253,793
Total Fundraising Expense$19,704
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy$337,627-$916$338,543
Other Salaries and Wages$113,305--$113,305
Current Officers, Directors, Trustees, and Key Employees$55,300$15,800$7,900$79,000
Payroll Taxes$42,157$4,542-$46,699
Office Expenses$16,313$25,649$1,392$43,354
Interest$37,980$175-$38,155
Fees for Services Other$24,212$1,000$3,690$28,902
Other Expenses$22,467$250$5,806$22,467
Insurance$7,260$10,278-$17,538
Travel$16,967$119-$17,086
Depreciation Depletion$17,062--$17,062
All Other Expenses$2,668$12,414-$15,082
Other Employee Benefits$14,789--$14,789
Information Technology-$5,412-$5,412
Advertising$4,464--$4,464
Fees for Services Accounting-$3,563-$3,563
Total Functional Expenses$858,281$84,108$19,704$962,093
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$59,393
Fundraising Direct Expenses$13,780
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Special Events$86,592$59,393$13,780$45,613
Total Events$86,592$59,393$13,780$45,613
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Line of Credit$80,000
Sales Tax Payable$11,406
Gift Certificates Payable$7,033
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

The executive director reveiws the 990 with the treasurer and provides a copy for the full board via email

Form 990, Page 6, Part VI, Line 15A

Compensation of the executive director is set by the executive/compensation committee, which is an "independent body". They conduct a "comparability review". The executive director is not part of this review process. The executive/compensation commmittee looks at comparable salary and benefits data, such as data available from salary and benefit surveys, to learn what nonprofit employers with similar missions, and of a similar budget size, that are located in the same, or a similar geographic region, pay their senior leaders. The executive/compensation committee documents who was involved in the compensation setting process,(and their independence) and the process used to conduct the review, as well as the disposition of the full boards decision to approve the compensation in the minutes of a board meeting.

Form 990, Page 6, Part VI, Line 19

No documents available to the public

Filing and Contact Details

Filer

Filer Name
Studio Two Three
EIN
27-0876594
Phone
8042547302
Address
109 W 15TH ST, RICHMOND, VA 23224

Signing Officer

Name
Ashley Hawkins
Title
Executive Director
Phone
8042547302
Signed
2024-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Ashley Hawkins
Formed
2019
Legal Domicile
Va
Voting Board Members
11
Independent Board Members
11
Employees
6

Preparer

Firm
J Brocklehurst CPA Pllc
Address
3900 WESTERRE PARKWAY SUITE 300, RICHMOND, VA 23233
Preparer
Janet L Brocklehurst
Phone
8047290023
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

Studio two three empowers artists to make art and make change. Studio two three is a nonprofit community print studio and art space, founded in 2009. We believe in radical generosity, the power of community art production and storytelling and that community artists are integral to social and systemic change. We are a busy home to over 130 artist members that runs off of trust and a culture of mutual aid. Members have 24/7 access, share resources and ideas, and collaborate on projects.

Form 990, Page 2, Part III, Line 4A

Community print shop and artist membership: as a community art organization, we beleive deeply in the power of printmaking to amplify the voices, stories and perspectives of our community. Printmaking is an accessible, affordable means of mass production, and a tool for civic engagement. We provide over 100 artists with 24/7 access to printing presses, darkroom, digital lab, communal tools and workpace, to support art making for personal and social change. We proudly host arts and advocacy projects, including performing statistics (an 8 week summer institute that works with incarcerated youth to creatively reimagine the milk river arts (an ongoing studio program for neurodiverse artists)), richmond public schools (we provide space, educational assistance and print making for their advocacy meetings and events).

Form 990, Page 2, Part III, Line 4D

Commumity printmaking: studio two three brings its mobile print truck into the community in support for free community printmakiing activities. The truck visits festivals, nonprofits, community events, and collaborates with arts and activist communtiies working on social justice issues in the city of richmond and beyond. The studio holds several community printmaking days a month; the content varies each time. Processes include screen printing t-shirts and posters, printing giant letterpress banners, and using the print truck as a mobile darkroom to shot and develop large-frame photgraphic portraits.

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IRS990/MissionDesc0STUDIO TWO THREE EMPOWERS ARTISTS TO MAKE ART AND MAKE CHANGE. STUDIO TWO THREE IS A NONPROFIT COMMUNITY PRINT STUDIO AND ART SPACE, FOUNDED IN 2009. WE BELIEVE IN RADICAL GENEROSITY, THE POWER OF COMMUNITY ART PRODUCTION AND STORYTELLING AND THAT COMMUNITY ARTISTS ARE INTEGRAL TO SOCIAL AND SYSTEMIC CHANGE. WE ARE A BUSY HOME TO OVER 130 ARTIST MEMBERS THAT RUNS OFF OF TRUST AND A CULTURE OF MUTUAL AID. MEMBERS HAVE 24/7 ACCESS, SHARE RESOURCES AND IDEAS, AND COLLABORATE ON PROJECTS.
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IRS990/ProgSrvcAccomActy3Grp/Desc0STUDIO TWO THREE STORE, ARTIST MARKETS AND ARTWORK SALES: THE STUDIO STORE FEATURES WORK BY TALENTED LOCAL ARTISTS WHO ARE ARTIST MEMBERS, TEACHERS, AND VOLUNTEERS. THE STORE PROVIDES LOCAL ARTISTS WITH THE OPPORTUNITY TO SELL THEIR WORK AND BUILD THEIR CAREERS IN THE ARTS. THE STUDIO ALSO FEATURES SALES OF LOCAL ARTISTS WORK AT VENDOR MARKETS, THEIR ANNUAL WINTER MARKET AND FALL ART AUCTION.
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IRS990/ProgSrvcAccomActyOtherGrp/Desc0COMMUMITY PRINTMAKING: STUDIO TWO THREE BRINGS ITS MOBILE PRINT TRUCK INTO THE COMMUNITY IN SUPPORT FOR FREE COMMUNITY PRINTMAKIING ACTIVITIES. THE TRUCK VISITS FESTIVALS, NONPROFITS, COMMUNITY EVENTS, AND COLLABORATES WITH ARTS AND ACTIVIST COMMUNTIIES WORKING ON SOCIAL JUSTICE ISSUES IN THE CITY OF RICHMOND AND BEYOND. THE STUDIO HOLDS SEVERAL COMMUNITY PRINTMAKING DAYS A MONTH; THE CONTENT VARIES EACH TIME. PROCESSES INCLUDE SCREEN PRINTING T-SHIRTS AND POSTERS, PRINTING GIANT LETTERPRESS BANNERS, AND USING THE PRINT TRUCK AS A MOBILE DARKROOM TO SHOT AND DEVELOP LARGE-FRAME PHOTGRAPHIC PORTRAITS.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0STUDIO TWO THREE EMPOWERS ARTISTS TO MAKE ART AND MAKE CHANGE. STUDIO TWO THREE IS A NONPROFIT COMMUNITY PRINT STUDIO AND ART SPACE, FOUNDED IN 2009. WE BELIEVE IN RADICAL GENEROSITY, THE POWER OF COMMUNITY ART PRODUCTION AND STORYTELLING AND THAT COMMUNITY ARTISTS ARE INTEGRAL TO SOCIAL AND SYSTEMIC CHANGE. WE ARE A BUSY HOME TO OVER 130 ARTIST MEMBERS THAT RUNS OFF OF TRUST AND A CULTURE OF MUTUAL AID. MEMBERS HAVE 24/7 ACCESS, SHARE RESOURCES AND IDEAS, AND COLLABORATE ON PROJECTS.

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